IMMOVATA: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
What changed
IMMOVATA
NACE 73.200, Market research and public opinion polling
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€40,532
2024 · €30,582+€9,950
Equity
€2.0m
2024 · €2.0m+€40,532
Cash
€23,301
2024 · €49,453-€26,152
Balance sheet total
€6.8m
2024 · €5.2m+€1.6m
Largest movements
Assets
- Tangible fixed assets +€1.4m
up €1.4m (+26.7%), from €5.1m to €6.5m
of which Land and buildings: +€1.4m
- Receivables within one year +€216,274
up €216,274 (+309%), from €69,921 to €286,195
of which Trade receivables: +€207,306
Equity and liabilities
- Debts after one year +€1.3m
up €1.3m (+329%), from €400,660 to €1.7m
- Other debts +€149,404
up €149,404 (+6.1%), from €2.4m to €2.6m
Income statement
- Gross operating margin +€244,477
up €244,477 (+36.7%), from €666,531 to €911,008
- Depreciation +€206,858
up €206,858 (+86.0%), from €240,552 to €447,410
- Financial charges +€16,331
up €16,331 (+265%), from €6,153 to €22,484
- Financial income -€15,249
down €15,249 (-98.7%), from €15,448 to €200
- Staff costs -€14,219
down €14,219 (-4.0%), from €357,426 to €343,207
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Result 2024
€30,582
Gross operating margin
+€244,477
Staff costs
+€14,219
Depreciation
-€206,858
Other operating charges
-€6,810
Financial income
-€15,249
Financial charges
-€16,331
Taxes
-€6,787
Deferred taxes and other
+€3,288
Result 2025
€40,532
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€413,809
Investment
-€1.8m
Financing
+€1.4m
Cash 2024
€49,453
From operations (derived)
+€413,809
Net result for the year
+€40,532
Depreciation
+€447,410
Receivables within one year
-€216,274
Deferred charges and accrued income
-€6,103
Provisions
-€6,456
Trade debts
-€11,134
Tax, wage and social debts
+€13,502
Other debts
+€149,404
Accrued charges and deferred income
+€2,927
Investment (derived)
-€1.8m
Investment in fixed assets (net)
-€1.8m
Financing
+€1.4m
Debts after one year
+€1.3m
Current portion of long-term debt
+€53,353
Cash 2025
€23,301
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,236,317 | €6,795,807 | +€1.6m | +29.8% |
| Fixed assets | 21/28 | €5,113,572 | €6,476,837 | +€1.4m | +26.7% |
| Tangible fixed assets | 22/27 | €5,113,572 | €6,476,837 | +€1.4m | +26.7% |
| Land and buildings | 22 | €5,094,553 | €6,462,016 | +€1.4m | +26.8% |
| Plant, machinery and equipment | 23 | €297 | €99 | -€198 | -66.7% |
| Furniture and vehicles | 24 | €18,722 | €14,722 | -€4,000 | -21.4% |
| Current assets | 29/58 | €122,745 | €318,969 | +€196,225 | +160% |
| Amounts receivable within one year | 40/41 | €69,921 | €286,195 | +€216,274 | +309% |
| Trade receivables | 40 | €38,053 | €245,359 | +€207,306 | +545% |
| Other amounts receivable | 41 | €31,868 | €40,836 | +€8,968 | +28.1% |
| Cash at bank and in hand | 54/58 | €49,453 | €23,301 | -€26,152 | -52.9% |
| Deferred charges and accrued income | 490/1 | €3,371 | €9,473 | +€6,103 | +181% |
| Total equity and liabilities | 10/49 | €5,236,317 | €6,795,807 | +€1.6m | +29.8% |
| Equity | 10/15 | €2,000,819 | €2,041,351 | +€40,532 | +2.0% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €1,937,870 | €1,978,502 | +€40,633 | +2.1% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Tax-exempt reserves | 132 | €639,120 | €619,752 | -€19,367 | -3.0% |
| Distributable reserves | 133 | €1,292,500 | €1,352,500 | +€60,000 | +4.6% |
| Profit (loss) carried forward | 14 | €449 | €349 | -€101 | -22.4% |
| Provisions and deferred taxes | 16 | €213,040 | €206,584 | -€6,456 | -3.0% |
| Deferred taxes | 168 | €213,040 | €206,584 | -€6,456 | -3.0% |
| Amounts payable | 17/49 | €3,022,458 | €4,547,872 | +€1.5m | +50.5% |
| Amounts payable after more than one year | 17 | €400,660 | €1,718,022 | +€1.3m | +329% |
| Other amounts payable | 178/9 | €400,660 | €1,718,022 | +€1.3m | +329% |
| Amounts payable within one year | 42/48 | €2,621,798 | €2,826,923 | +€205,125 | +7.8% |
| Current portion of amounts payable after more than one year | 42 | €118,535 | €171,888 | +€53,353 | +45.0% |
| Trade debts | 44 | €27,558 | €16,424 | -€11,134 | -40.4% |
| Suppliers | 440/4 | €27,558 | €16,424 | -€11,134 | -40.4% |
| Taxes, remuneration and social security | 45 | €40,959 | €54,461 | +€13,502 | +33.0% |
| Taxes | 450/3 | - | €585 | +€585 | |
| Remuneration and social security | 454/9 | €40,959 | €53,876 | +€12,917 | +31.5% |
| Other amounts payable | 47/48 | €2,434,746 | €2,584,150 | +€149,404 | +6.1% |
| Accrued charges and deferred income | 492/3 | - | €2,927 | +€2,927 | |
| Remuneration, social security and pensions | 62 | €357,426 | €343,207 | -€14,219 | -4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €240,552 | €447,410 | +€206,858 | +86.0% |
| Other operating charges | 640/8 | €36,634 | €43,444 | +€6,810 | +18.6% |
| Gross operating margin | 9900 | €666,531 | €911,008 | +€244,477 | +36.7% |
| Operating profit (loss) | 9901 | €31,918 | €76,946 | +€45,028 | +141% |
| Financial income | 75/76B | €15,448 | €200 | -€15,249 | -98.7% |
| Recurring financial income | 75 | €15,448 | €200 | -€15,249 | -98.7% |
| Financial charges | 65/66B | €6,153 | €22,484 | +€16,331 | +265% |
| Recurring financial charges | 65 | €6,153 | €22,484 | +€16,331 | +265% |
| Profit (loss) for the period before taxes | 9903 | €41,213 | €54,662 | +€13,449 | +32.6% |
| Transfer from deferred taxes | 780 | €3,167 | €6,456 | +€3,288 | +104% |
| Income taxes | 67/77 | €13,798 | €20,585 | +€6,787 | +49.2% |
| Profit (loss) for the period | 9904 | €30,582 | €40,532 | +€9,950 | +32.5% |
| Transfer from tax-exempt reserves | 789 | €8,428 | €19,367 | +€10,939 | +130% |
| Profit (loss) for the period to be appropriated | 9905 | €39,010 | €59,899 | +€20,889 | +53.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.